• The Implications and Effects of the Tax Cuts and Jobs Act

      Smoker, Kari; Regan, Sean; The College at Brockport (2019-05-17)
      Bipartisan politics often means disagreements on important issues between the opposing political parties. In the United States, the Democrats and Republicans are often at odds with one another, especially when it comes to the area of taxation. Despite their differing viewpoints, the tax code had remained largely the same since President Reagan’s Tax Reform Act of 1986, with some minor updates and adjustments over the years. Over 30 years later, on December 22, 2017, President Donald Trump signed The Tax Cuts and Jobs Act (TCJA) into law. It reflects the type of tax reform that has been advocated by Republicans for many years, and is intended to reduce the federal tax burden on the American people and its corporations, while simultaneously boosting the economy.